Value of 1960 LeSabre convert???

[Joe Cocuzza]

Need some advice from the experts.

I am looking at this one and I'd like to know what you all think it is worth.

Details:

All original - interior, engine, etc

95K miles

Engine is stuck from sitting

Tranny lost reverse

Has been parked since mid 70's

Very little rust - most of it in the rear quarters and outer rockers

floors, trunk are solid

100% complete

Looks like it would clean up okay

 

Value????? - at least a ballpark figure

[lrlforfun]

OK Joe: I  like it at $3,500. Add another couple grand if it can drive to the store and back.  It's been spammed everywhere for a long time and I'm thinking the seller's not ready to cry uncle.  This car is desirable at a price. Mitch

[Joe Cocuzza]

Thanks Mitch

Wants MUCH more than that.

[JohnD1956]

Start adding up what you'll need, then add 3 x that for labor, and then subtract that from any average of completed sales on E bay, 

 

Here's a few things I noticed.

The car looks to have had some body and paint work

The interior is moldy, requiring almost certain complete replacement

Tires at a minimum & if the engine seized sitting for 30 years, you can bet the frame and attached parts have some rust besides.

 

It's a cool car, one I'd like to have myself.  But it is going to cost substantial $$ to bring it back to driving condition.

[Barney Eaton]

I have a year old price guide from Old Cars and it list it as the following...

 

6 = Parts car     $1,800

5 = Restorable (not running but all the essential parts are there)   $5,040

4 = good (driveable) $8,400

3 = very good $18,900

2 = fine           $29,400

1 = Excellent  $42,000

 

From the description it is not a 1,2,3 or 4.... so it all depends on what you can repair yourself and how much you want the car.

I would make a list of the known problems and put a price on them.    Then decide what you would pay for the car.

[old-tank]

Take a value of a complete running driving car and subtract the cost to bring this one to that condition.  You know this one needs engine and transmission and brakes and tires and top and...Since you cant' drive it who know what kind of shape the suspension and rear end are in.  You are upside down if they gave it to you!  Even if you have a passion for it now, you might soon hate it.

[Barney Eaton]

Willie.......don't scare off a potential Buick owner

[60FlatTop]

Anything under $10,000 is a pretty good entry fee for a potentially desirable car like this convertible. And I'd say that is close to the cost of an interior and top. Then there is a lot more work ahead.

 

Buy it, bring it home, and clean it up. If you don't like it sell. You won't lose 100%. How much are you prepared to lose or spend?

 

For about 15 years the internet has brought a much wider range of cars for sale, and many opportunities for a sight unseen purchase. Recognizing the risks, I established a figure that I felt I could lose without affecting the flow of groceries to the family. I figure I can screw up for $3500 without feeling hurt. (It's actually about the cost of a post grad course at a local School of Business). If I bought that car for $10,000, felt I made a mistake, and sold it for $6,500 I wouldn't be thrilled, but I'd be a little smarter next time....maybe.

 

On my side, using the $3500 rule has worked out fine. I haven't lost or felt disappointed since I went into a deal with that conscious thought. I can say that my purchases have been totally impulse buys and immediate. If I can take the time to think or ask , my juices aren't flowing enough and I can pass the car up for the one that does.

Bernie

Edited December 27, 2015 by 60FlatTop (see edit history)

[Joe Cocuzza]

Thanks for all the replies and advice.

I have since passed on this one at the $10K price tag

Just didn't want to get involved with trying to "move" other cars I have

to justify this one.

Thanks again